Dubai: Ministry of Finance, FTA Hold VAT Workshop for Government EntitiesSource: www.export-egypt.com 11/16/2017, Location: Middle East |
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As per the Federal Decree No. (08) of 2017 on Value Added Tax, VAT, the Ministry of Finance, MoF, in collaboration with the Federal Tax Authority, FTA, has organised four workshops on how to deal with VAT, in Abu Dhabi and Dubai.
The workshops were attended by employees of the ministry and representatives from 32 different ministries and federal entities. Topics including the latest developments in relevant tax legislation, practical examples on the application of VAT, online registration through the FTA’s website, filling tax returns, penalties with regards to tax evasion and general non-compliance were discussed. The sessions also included a presentation of the auditing mechanisms of the FTA with practical examples on the application of VAT, taxable supplies, and the calculation of outputs on supplies as well as mandatory and voluntary registration. Discussions were held on the supplies with zero rate in the UAE, which are not subject to VAT, income tax deductible on related expenses, as well as exempting supplies to recover input tax. Participants were also introduced to the impact of VAT on government entities, and the independent activities carried out by government entities that fall outside the scope of VAT. Independent activities carried out by government entities are treated as non-commercial activities for the purposes of VAT and fall outside the scope of tax, VAT should be applied and enforced only where appropriate. |
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